Investing.com – The euro extended gains against the U.S. dollar on Thursday, rising to a fresh 2-day high as speculation over the scale and the potential impact of further U.S. monetary easing weighed on the dollar.
EUR/USD hit 1.3914 during European afternoon trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 1.3904, jumping 0.98%.
The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.
The greenback came under pressure following a news report that the Federal Reserve Bank of New York surveyed primary dealers, asking them to estimate the effects of possible debt purchases by the central bank over a six-month period.
Earlier in the day, official data showed that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly to the lowest level since July.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week. Analysts had expected initial jobless claims to remain unchanged last week.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.21% to hit 0.8713.
Earlier Thursday, data showed that the euro zone CB economic-sentiment index rose to a 34-month high of 104.1 in October, up from 103.2 in September.
EUR/USD hit 1.3914 during European afternoon trade, the pair’s highest since Tuesday; the pair subsequently consolidated at 1.3904, jumping 0.98%.
The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday’s high.
The greenback came under pressure following a news report that the Federal Reserve Bank of New York surveyed primary dealers, asking them to estimate the effects of possible debt purchases by the central bank over a six-month period.
Earlier in the day, official data showed that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly to the lowest level since July.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to a revised 455K in the preceding week. Analysts had expected initial jobless claims to remain unchanged last week.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.21% to hit 0.8713.
Earlier Thursday, data showed that the euro zone CB economic-sentiment index rose to a 34-month high of 104.1 in October, up from 103.2 in September.